In this illusion, David Blaine appears to be levitating in the middle of the street.
Explanation: This is a mixture of several techniques. The method he used to convince the spectators that he was levitating is called Balducci levitation. However, what you see on the video is not just Balducci levitation. He goes far too high and you can clearly see both his feet go off the ground. Instead, Blaine used some clever video editing. First, he performed the Balducci levitation for the spectators and filmed their reactons. He then recorded the levitation scene you can see in the video separately, without the audience and with the help of wires. Both recordings were edited together so you think that the spectators saw the same thing you did.
Pay attention to the spectators. You can't really see them during the levitation. All you see is some clothing which could easily be duplicated afterwards. By the time you see them again, Blaine has already landed and their reactions are shown.